U.S. stocks rose Monday as Wall Street looked past Sunday night's bitter presidential debate between Hillary Clinton and Donald Trump, focusing instead on oil's 3% rally and the looming start of earnings season. Oil prices in the U.S. rose on hopes OPEC will agree to a production cut at its meeting in November. The cartel's goal is to reduce output to a range between 32.50 million barrels per day to 33 million bpd. Merck (MRK) shares rose 1.8% following successful outcomes in Phase II/III trials of its lung cancer drug Keytruda. Bristol-Myers (BMY) , which saw its shares fall almost 9%, is developing a similar drug called Opdivo. In August, the company reported negative late-stage trial results for Opdivo when compared with chemotherapy. Mylan (MYL) shares rose 9% after reaching a $465 million settlement with the U.S. government amid claims the drugmaker overcharged Medicaid for its EpiPen product.
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